I-Capital Africa inks partnership agreement with NSE
Nairobi Securities Exchange (NSE), one of the leading African Exchanges, has inked a partnership agreement with The i-Capital Africa Institute to enter the Ethiopian market as a prominent capacity developer and advisor for the newly developing Capital Market.
The agreement was signed on Tuesday at Sapphire Addis Hotel among Gemechu Waktola, Founder and CEO of The i-Capital Africa Institute, David Wainaina, Head of Trading Operations at NSE and Jackson Kiminjwe, Capacity Development Senior Manager at NSE.
The i-Capital Africa Institute has decided to establish a partnership with NSE which one of the leading African Exchange to jointly provide customized capacity development programs, various short-term training and certification programs, and exposure based learning in Kenya and other African countries.
The agreement further incorporates advisory services and consultancies to organizations and groups who are interested to establish capital market intermediaries and share experiences and support the efforts of Ethiopian government and project teams to build an effective capital market ecosystem.
Gemechu explained in a presser during the agreement that Capital market has become successful in other nations due to infrastructural, market development, and sound policy and regulatory frameworks.
David on his part pledged to support the Ethiopian capital market to become successful. “We’ll provide capacity building programs for Ethiopia’s financial institutions,” he said, adding that, “It takes 70 years for Kenya to get here in the capital market system.”
He went on to say that, “The moment you you’ve capital market in Ethiopia, you need to think working across the border.”
Gemechu on the other hand says that the government can raise funds for mega project whenever capital market is established.
Ethiopia had a short-lived capital market during Emperor Hailesilassie I Regime.
Capital market contributes 24% to Kenya’s Gross Domestic Product (GDP).
The i-Capital Africa Institute was founded in 2015 in Ethiopia and has been providing advisory and capacity development solutions for banks, insurance companies, and other public and private organizations.
NSE is one of the leading African Exchange, based in Kenya. Founded in 1954, NSE offers a world class trading facility for local and international investors looking to gain exposure to Kenya and Africa’s economic growth.